They also announced the first entrant: season-three runner-up Dan Hornbuckle (22-3 MMA, 3-1 BFC).

The tournament, which earns the winner $100,000 in total pay and a title shot, kicks off in March on MTV2.

Hornbuckle, a World Victory Road/Sengoku veteran, competed in the organization’s eight-man field earlier this year. After submitting Tyler Stinson and Steve Carl, he headed to the finals and dropped a decision to Ben Askren, who went on to win the belt from then-champ Lyman Good.

“The fact that Ben Askren is going to be there waiting for me after I win this tournament keeps me motivated,” Hornbuckle stated. “It keeps me waking up every morning hungry. There’s never a loss that is taken easily, so I definitely want to get back in there, win this tournament, and avenge that loss.”

Hornbuckle has won seven of his past eight fights, and 20 of his 22 career victories have come via stoppage.

“While our first two welterweight tournaments have been great, based on the lineup, this tournament is stacked from No. 1 through 8 and should be our strongest to date,” Bellator Chairman and CEO Bjorn Rebney stated. “Dan’s a significant talent, and I know how motivated he is to earn his way to a rematch with Ben. It’s great to have him back in.”

Bellator, which aired past seasons on ESPN Deportes and then FOX Sports Net, also is expected to host season-four tournaments in the lightweight, middleweight and light-heavyweight divisions.